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REGULATIONS  GOVERNING  THE  PLACING  OF  AND  THE  ACCOUNT- 
ING FOR  THE  J^N-RVS  OF  THE  FIVE  CIVILIZED  TRIBES  TO  BE 
DEPOSITED  IN  NATIONAL  AND  STATE  BANKS  IN  OKLAHOMA, 
UNDER  THE  PROVISIONS  OF  THE  ACT  OF  CONGRESS  APPROVED 
MARCH  3,  1911,  AND  DECISION  OF  COMPTROLLER  OF  THE 
TREASURY  DATED  OCTOBER  12,  1911. 


Section  1.  The  act  of  March  3,  1911  (36  Stats.  L.,  1058-1070), 
provides  as  follows : 

The  net  receipts  from  the  sales  of  surplus  and  unallotted  lands  and  other 
tribal  property  belonging  to  any  of  the  Five  Civilized  Tribes,  after  deducting 
the  necessary  expense  of  advertising  and  sale,  may  be  deposited  in  national  or 
State  baijks  in  the  State  of  Oklahoma  in  the  discretion  of  the  Set."retary  of  the 
Interior,  such  depositories  to  be  designated  by  him  under  such  rules  and  regu- 
lations governing  the  rate  of  interest  thereon,  the  time  of  deposit  and  with- 
drawal thereof,  and  the  security  therefor  as  he  may  prescribe.  The  interest 
accruing  on  such  funds  may  be  used  to  defray  the  expense  of  the  per  capita 
payments  of  such  funds. 

Sec.  2.  Any  national  bank  in  the  State  of  Oklahoma  wishing  to 
be  designated  as  a  depository  for  the.se  funds  shall  submit  an  appli- 
cation to  the  commissioner  of  the  Five  Civilized  Tribes,  Muskogee, 
Okla.,  or  to  such  other  officer  as  may  be  designated  by  the  Secretary 
of  the  Interior,  stating  the  amount  of  deposit  desired  and  the  rate 
of  interest  it  proposes  to  pay,  such  interest  to  be  credited  semi- 
annualh\  Each  such  application  must  be  accompanied  by  a  state- 
ment of  the  financial  condition  of  the  bank ;  also  a  statement  showing 
the  amount  of  Indian  moneys  and  Government  funds  on  deposit 
therein.  Such  application,  with  accompanying  papers,  will  be  sub- 
mitted through  the  Commissioner  of  Indian  Affairs  to  the  Secretary 
of  the  Interior,  who  will  determine  whether  the  applicant  bank 
shall  be  designated  as  a  depository  for  these  funds  and  the  maximum 
amount  of  deposit  to  be  made. 

Sec.  3.  After  such  designation  and  the  filing  of  satisfactory  bond 
or  bonds  in  an  amount  equal  to  the  maximum  sum  to  be  deposited, 
plus  10  per  cent,  to  be  approved,  both  as  to  form  and  as  to  responsi- 
bility of  sureties,  by  the  Secretary  of  the  Interior,  deposits  will  be 

14653—11 


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placed  in  banks  so  selected,  from  time  to  time,  as  conditions  may 
warrant. 

In  order  to  equalize  the  interest  earnings  so  far  as  practicable,  the 
funds  of  each  tribe  will  be  placed  in  equal  amounts  in  the  available 
depositories  paying  the  highest  rate  of  interest  at  the  time  the  deposit 
is  made. 

Sec.  4.  Banks  receiving  these  funds  are  not  United  States  De- 
positaries, and  are  considered  merely  as  holding  banks  for  the  funds 
designated  under  the  provisions  of  the  act  of  Congress  March  3, 
1911,  supra. 

Sec.  5.  All  such  deposits  shall  be  in  the  name  of  the  United  States 
as  trustee,  and  carried  and  accounted  for  under  the  titles  indicated 
in  notice  of  the  Commissioner  of  Indian  Affairs  sent  upon  issuance 
of  requisition. 

Sec.  6.  Such  deposits  shall  bear  interest  from  the  date  of  deposit 
at  the  rates  stipulated  in  the  bond,  and  all  interest  accruing  up  to 
and  including  December  31  and  June  30  of  each  year  shall  be  cred- 
ited on  those  dates  to  the  United  States  as  trustee  for  the  respec- 
tive tribes,  and  carried  under  a  separate  title  as  interest  on  the  fund 
upon  which  it  has  accrued. 

The  interest  accounts  thus  created  shall  bear  interest  the  same  as 
the  jDrincipal  account. 

Sec.  7.  Deposits,  made  in  the  fiscal  year  ending  June  30,  1912,  will 
be  with  the  expectation  and  intent  that  they  shall  remain  for  at 
least  one  year,  and  those  made  after  that  time  shall  be  with  the 
expectation  that  they  shall  remain  at  least  six  months,  unless  other- 
wise specifically  designated. 

Any  such  deposits  and  interest  thereon  to  date  of  withdrawal,  or 
any  part  thereof,  may,  however,  be  withdrawn  at  any  time  by  direc- 
tion of  the  Secretary  of  the  Interior  without  prior  notice  thereof. 

Sec.  8.  Section  3622,  Revised  Statutes  of  the  United  States,  pro- 
vides, in  part,  as  follows : 

Every  officer  or  agent  of  the  United  States  who  receives  public  money  which 
he  is  not  autliorized  to  retain  as  salary,  pay,  or  emolument,  shall  render  his 
accounts  monthly.  Such  accounts,  with  the  vouchers  necessary  to  the  correct 
and  prompt  settlement  thereof  shall  be  sent  by  mail  or  otherwise  to  the 
bureau  to  which  they  pertain,  within  10  days  after  the  expiration  of  each 
successive  month,  and  after  examination  there  shall  be  passed  to  the  proper 
accounting  officer  of  the  Treasury  for  settlement. 

The  banks  designated  are  considered  fiscal  officers,  and  their  ac- 
counts shall  be  rendered  monthly  to  the  Commissioner  of  Indian 
Affairs,  Washington,  D.  C,  as  provided  in  the  section  above  quoted, 
in  accordance  with  prescribed  forms  obtainable  on  request  from  the 
Commissioner  of  the  Five  Civilized  Tribes,  Muskogee,  Okla. 


These  accounts  will  consist  of  an  account  current,  on  which  sliall  'T)jo^'C 
36  shown  in  detail  all  funds  received  during  the  period  and  deposits 
nade  with  the  Assistant  Treasurer  of  the  United  States,  St.  Louis, 
Mo.,  to  the  credit  of  the  United  States  or  to  any  of  its  bonded  dis- 
3ursing  officers. 

The  date  of  receipt  of  warrant  by  the  holding-  bank  must  be  shown 
in  each  case,  and  deposits  by  the  holding  banks,  as  provided  in  sec- 
tions T  and  9  of  these  regulations,  shall  be  evidenced  by  the  original 
certificate  of  deposit  issued  by  the  Assistant  Treasurer  of  the  United 
States,  St.  Louis,  Mo. 

Sec.  9.  Funds  will  be  remitted  to  the  various  bonded  banks  on 
requisition  of  the  SecretaiT  of  the  Interior,  accountable  warrant 
therefor  being  issued  direct  to  the  holding  bank,  such  holding  banks 
rendering  their  account  as  indicated  in  section  3622,  Revised  Statutes 
of  the  United  States,  quoted  above,  and  in  section  8  of  these  regula- 
tions. This  api^lies  to  funds  now  on  deposit  in  the  Treasury  of  the 
United  States  or  hereafter  deposited  there. 

Hereafter  all  such  funds,  collected  through  a  disbursing  officer  of 
the  Lidian  Service,  shall  be  deposited  direct  in  the  available  holding 
banks,  if  any,  by  the  disbursing  officer,  whenever  so  ordered  by  the 
Commissioner  of  Indian  Affairs.  If  no  holding  bank  is  available, 
the  funds  may  be  deposited  with  the  Assistant  Treasurer  of  the 
United  States,  St.  Louis,  Mo.,  to  the  credit  of  the  United  States,  if 
30  directed  by  the  Commissioner  of  Indian  Affairs.  Such  disbursing 
officer  will  be  relieved  in  his  accounts  upon  filing  the  certificate  of 
deposit  of  the  holding  bank  or  of  the  Subtreasury,  and  at  the  time 
of  making  the  deposit  shall  designate  to  the  holding  bank  or  Sub- 
treasury  the  title  of  the  fund  so  deposited.  The  holding  bank  will 
take  up  in  its  accounts  such  funds  under  the  same  provisions  and 
regulations  as  have  been  set  out  herein  governing  the  funds  placed 
direct  from  the  Treasury  Department. 

Sec.  10.  Withdrawals  of  these  funds  shall  be  effected  by  the  order 
3f  the  Secretary  of  the  Interior,  directing  the  funds  so  withdrawn  to 
3e  placed  with  the  Assistant  Treasurer  of  the  United  States,  St.  Louis, 
Mo.,  to  the  credit  of  the  United  States  or  a  bonded  disbursing  officer, 
IS  he  may  direct. 

Wlien  the  amount  of  funds  deposited  in  any  holding  bank,  together 
svith  interest  accruals  or  interest  to  accrue  prior  to  the  next  interest 
Deriod,  shall  exceed  the  amount  of  bond  furnished  by  the  bank,  such 
Dank  shall  deposit,  without  demand,  sufficient  funds  to  allow  the 
iccrual  of  interest  on  the  next  interest  period  to  be  stated,  so  that  the 
imount  of  the  bond  shall  not  be  exceeded  by  the  interest  and  prin- 
jipal  combined.     This  deposit  shall  be  made  to  the  credit  of  the 


United  States  with  the  Assistant  Treasurer  of  the  United  States  at 
St.  Louis,  Mo.,  designating  the  funds  so  deposited. 

Sec.  11.  Any  regulations  or  part  of  regulations,  heretofore  issued, 
in  conflict  with  these  regulations,  are  hereby  revoked. 

F.  H.  Abbott, 
Acting  Commissioner  of  Indian  Affairs. 
Approved. 
October  27,  1911. 

Carmi  a.  Thompson, 

Acting  Secretary  of  the  Interior. 

o 


GENERAL  LIBRARY  -  U.C.  BERKELEY 


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